NEU Battery Materials raises $7.6M to scale LFP battery recycling
What's the deal? NEU Battery MaterialsDealroom has a profile for this one. Try Dealroom →, a Singapore-based company that recycles lithium iron phosphate (LFP) batteries, has closed an oversubscribed $7.6 million early-stage round. It was co-led by Shift4GoodDealroom has a profile for this one. Try Dealroom → and government-backed SGInnovateDealroom has a profile for this one. Try Dealroom →, with participation from new investors Lotus Singapore GroupDealroom has a profile for this one. Try Dealroom → and M7 HoldingsDealroom has a profile for this one. Try Dealroom →, plus existing backer Paragon Ventures IDealroom has a profile for this one. Try Dealroom →.
Why now? The round follows NEU's newly commissioned 1,300-ton-per-year Singapore factory, which moves the company from technology development to industrial scale-up. The capital will fund the ramp-up of producing battery-grade lithium from feedstock such as cathode production scraps and end-of-life black mass, plus international expansion.
What's the endgame? NEU has built a patented electrochemical redox targeting technology to close the loop on LFP batteries. Its process is driven by electricity and water and uses regenerative chemicals, which it says cuts emissions by up to 83% compared with conventional methods such as hydrometallurgy and pyrometallurgy.
Why it matters: "LFP battery recycling is both a decarbonisation and an industrial sovereignty imperative," said Sebastien Guillaud, co-founder and managing partner at Shift4Good. LFP accounts for over 90% of battery energy storage systems worldwide and more than 55% of all EV batteries, according to the International Energy Agency.
What's next? NEU will focus on scaling production, lowering costs, and expanding its partner network. "The funding will catalyse the scale-up and deployment of our modular LFP recycling technology," said Bryan Oh, co-founder and chief executive officer.
The signal: As battery deployments surge globally, scalable recycling is becoming central to securing critical lithium supply chains. NEU's raise sits in the upper tier for deals of its stage, reflecting investor appetite for domestic sources of battery materials.
Read more: prnewswire.com
Image credit: NEU Battery Materials
